From contactless payments and card-on-file storage to online shopping apps and purchases at petrol pumps or restaurants, Credit Cards make managing expenses easier than ever.
At the same time, being aware of how and where your card information is used helps you to enjoy these benefits safely and confidently. Today, the most powerful defence besides the bank’s security system is your own awareness and behaviour.
Types of Credit Card fraud in India
Today, hackers can attempt to access your card information while you are paying for your shopping, and you lose all your hard-earned money. Here are a few types of fraud that you need to be aware of.
Phishing links
Phishing links come through fake emails, links, SMS or websites pretending to be from banks, delivery companies or government departments. They trick you into clicking and steal your card details through dummy login pages.
Fake customer care calls
Scammers may call you pretending to be from the bank. They create urgency with reasons like a blocked card, suspicious transaction, or outdated KYC. This may prompt you to share sensitive information such as your OTP, CVV, or PIN, which gives them direct access to your card.
Online site data leaks
If you store your card details on various apps and sites for convenience, there is always a risk of your details getting leaked. A single platform getting leaked might put you at risk of losing your money.
Skimming at petrol pumps or ATMs
This is one of the oldest yet still common fraud techniques. Small, hidden skimmer devices are attached to POS machines, ATMs, or fuel stations. When you swipe your card, the skimmer stores your card information secretly.
Basics of Credit Card security hygiene
Here are a few simple tips to secure your Credit Card, including the Lounge Access Credit Card.
- Never hand a card physically to a waiter or petrol pump attendant without observing the swipe.
- Always cover the keypad when you enter the PIN on the POS system or ATM.
- Disable international transactions unless you actually need them.
- Don’t save your card details in random shopping apps.
These habits can eliminate the vulnerability of losing card details to a large extent.
Digital safety measures
Use virtual cards for online shopping
Many Credit Card apps allow you to generate a dynamic virtual card number. Use it instead of the physical card number.
Card tokenisation
Most apps now support tokenisation. Once tokenised, the merchant does not store your real card number.
Using UPI or e-wallets whenever possible
For smaller everyday payments, you can use UPI or an e-wallet so your physical card is not exposed everywhere.
Understanding transaction alerts
Ensure that the SMS, email and email alert for your bank accounts and Credit Cards are always enabled.
With consistent alerts, you can always get information about the transactions being performed. If any unauthorised transaction occurs, you are notified almost instantly. This quick awareness allows you to act promptly, increasing the chances of stopping or minimising any potential fraudulent activity.
Things to do when you suspect fraud?
Here are a few steps that you can take when you suspect fraud with your Credit Card:
- Freeze or block your card instantly through the app.
- Mark the transaction as unauthorised in the app if such an option is available.
- Call the bank’s customer care and file a complaint about the incident.
Conclusion
Credit Card safety can be ensured with a combination of strong systems and smart daily behaviour. Make card safety a part of your daily routine. Always stay alert when swiping your card or making online payments, and never share your OTP or PIN with anyone. A little caution each time can go a long way in keeping your finances secure.
ThePrint BrandIt content is a paid-for, sponsored article. Journalists of ThePrint are not involved in reporting or writing it.